Add ERC: Purpose bound money #128
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✅ All reviewers have approved. |
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The commit 633c242 (as a parent of cc5fbfb) contains errors. |
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This PDF has the following copyright notice:
All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanised, photocopying, recording or otherwise, without the prior written permission of the copyright owner.
Unfortunately this is not compatible with the EIPs repository.
The easiest option is to just remove these PDFs. If that isn't workable, you have two options:
- If you are a rights holder, or have received permission to redistribute this file, please include a license document in your assets directory.
- You may open a pull request to EIP-1 making an exception for links to the Monetary Authority of Singapore under EIP-5757.
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Thanks Sam. We will ask MAS to provide a license file and update again at a later date.
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Where'd we leave off on getting a license for these?
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Hi @SamWilsn , sorry for the long delay. Our MAS counterparts wanted to seek legal advice on the appropriate licence to use but their legal department is swamped at the moment and has put our request on the backburner. We have removed these two documents from the assets folder so as not to delay this review anymore. We will open a separate pull request after the licence has been granted.
Would this be workable for you?
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@SamWilsn may I also clarify whether the pdf documents in assets folder can have a different licence from the rest of the ERC and code? MAS is reluctant to convert their documents to CC0 license or other open source license. But they are willing to consider granting a more restrictive license that allow reproduction and hosting on ERC repository.
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No worries! Adding them at a later time is totally fine with us.
I'll allow any license that allows us to redistribute without placing too many restrictions on downstream implementations. For code, that generally means MIT/Apache-2.0/etc. are fine, but GPL/MPL are not.
Since these aren't code, any license that allows us to serve the files indefinitely would be fine IMO. I would suggest CC BY-ND 4.0 if you're looking for a license.
grammatical correction Co-authored-by: Sam Wilson <[email protected]>
grammatical correction Co-authored-by: Sam Wilson <[email protected]>
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grammatical edit Co-authored-by: Sam Wilson <[email protected]>
Simplified sentence Co-authored-by: Sam Wilson <[email protected]>
rephrase sentence Co-authored-by: Sam Wilson <[email protected]>
format event Co-authored-by: Sam Wilson <[email protected]>
wongtsejian
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There has been no activity on this pull request for 2 weeks. It will be closed after 3 months of inactivity. If you would like to move this PR forward, please respond to any outstanding feedback or add a comment indicating that you have addressed all required feedback and are ready for a review. |
eip-review-bot
changed the title
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There has been no activity on this pull request for 2 weeks. It will be closed after 3 months of inactivity. If you would like to move this PR forward, please respond to any outstanding feedback or add a comment indicating that you have addressed all required feedback and are ready for a review. |
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MAS' legal department is currently reviewing our request to apply for a licence to publish a copy of the Project Orchid documents in the database. |
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We have removed the two documents in order not to delay this review any further. @SamWilsn please let us know if your have any other concerns. |
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| This proposal outlines a smart contract interface that builds upon the [ERC-1155](./eip-1155.md) standard to implement the purpose bound money (PBM) concept: | ||
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| - PBMs is comprised of a PBM wrapper and a digital money token that it wraps. A digital money token (e.g. stablecoins, central bank digital currency, tokenised bank deposits etc) serves as as a store of value (abbreviated as "sov"). Thus, a digital money token (also referred to as "sovToken") **SHOULD** be: |
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The uppercase keywords (like "SHOULD") create requirements, and should only be used in the specification section.
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| #### PBMRC1 - Token Receiver | ||
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| Smart contracts MUST implement all of the functions in the PBMRC1_TokenReceiver interface to subscribe to PBM unwrap callbacks. |
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| Smart contracts MUST implement all of the functions in the PBMRC1_TokenReceiver interface to subscribe to PBM unwrap callbacks. | |
| Smart contracts MUST implement all of the functions in the `PBMRC1_TokenReceiver` interface to subscribe to PBM unwrap callbacks. |
When referring to interfaces, we prefer the use of backticks (`).
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| The **Non Preloaded** PBM extension is OPTIONAL for compliant smart contracts. This allows contracts to bind an underlying sovToken to the PBM at a later date instead of during a minting process. | ||
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| Compliant contract **MUST** implement the following interface: |
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I'm assuming compliant here means compliant with the specific extension, and not with the whole document. Probably a good idea to disambiguate.
[Migrated from https://github.com/ethereum/EIPs/pull/7292 due to repo migration from EIPs to ERCs]
The team is proposing to standardise the implementation of purpose-bound money (PBM) in an EIP. The aim is to provide a common specification for wallet players to be able to interact freely with PBM smart contracts issued by various PBM creators for various business use cases.
What are PBMs?
PBMs are a hybrid form of programmable payment and programmable money, which are bearer instruments, with self-contained programming logic and are transferrable between two parties without intermediaries.
What are the practical uses?
Purpose-bound money can be used to implement government disbursement tokens, shopping voucher tokens, prepaid tokens, rewards points token, purpose bound donation token, school allowance token etc. For additional information on PBM, please refer to:
Commercial adoption:
What are our goals?
To develop a minimal interface that can promote interoperability between various payment market players. The proposed interface builds upon ERC-1155 to ensure widespread compatibility with existing wallets.
Our team would appreciate any comments on the proposal’s design, feasibility as well as any security concerns. As the proposal is in the draft stage, the proposal will continue to evolve as we receive comments from the community.
Link to discussion at Ethereum Magician